A 529 plan, otherwise known as a qualified tuition plan, is a tax-sheltered way of saving for education. 529 plans are sponsored by states, state agencies, or educational institutions. For ...
Paying IRA benefits to a credit shelter trust after the death of the married IRA owner can minimize the income and estate tax on the IRA “pretax” assets after the ...
UGMA and UTMA accounts are accounts in which a custodian holds assets for a minor. An UGMA account is one under the Uniform Gift to Minors Act. An UTMA account ...
In the past many months, it has become clear that the IRS will not allow trustees to “stretch” the income taxes on IRAs or other retirement accounts which are payable ...
Image Retrieved from Istock by Getty Images A special needs trust is set up for a person with special needs to supplement any benefits the person with special needs may ...
When doing estate planning, it is critical that we are is aware of the basic tax basis issues and their impact on estate planning. Tax “basis” is a term related ...
TRUST ADMINISTRATION: THE FIRST AND MOST IMPORTANT STEP Trust administration is a necessary process that occurs after the death of either one or both settlors. To protect the successor trustees, ...
In addition to end-of-life planning through wills, trusts, and powers of attorney, our estate-planning group can assist clients with lifetime wealth transfer planning. Here, we discuss six alternatives for lifetime ...
If you are planning to sell a business, the sale could result in a huge capital gain. But there’s a way to reduce the tax bill, provide for a comfortable ...
Image retrieved from: Adobe Stock Charitable trusts come in two basic types: remainder trusts and lead trusts. Remainder Trusts There are two types of charitable remainder trusts: the annuity ...
